Aston Martin has been in the news lately and it isn’t because they’ve a new car out (this comes after the DBX) but because they’re in desperate need of a cash injection. According to the Jefferies Financial Group, Aston needs at least 400 million Pounds Sterling (AU$755 million) of fresh equity to keep funding its critical products.
The brand from Gaydon is getting battered by an industry downturn, speculations around Brexit and a lukewarm response toward their latest offerings, which is a little disheartening for the brand as the DBX SUV was touted as the brand’s lean mean sales machine.
However, Zhejiang Geely Holding Group Co., the Chinese auto giant whose been conducting due diligence on the British sports car maker, has been cooling on the idea of a deal after holding preliminary talks, Bloomberg reports. The same report also goes on to say that it was examining Aston to find a technology-sharing deal to benefit Geely’s businesses such as Lotus.
However, the automaker backed by Chinese tycoon Li Shufu isn’t the only interested party in Aston Martin. Lawrence Stroll of Formula One’s Racing Point is emerging as the fore-runner to buy a 19.9 percent stake in Aston. The Canadian billionaire is purportedly discussing a potential investment of 200 million Pounds Sterling or 382 million Australian dollars.
For now, things remain up in the air. Gaydon is probably still hoping the DBX – whose deliveries are slated for later this year – will save them from bankruptcy. The company hopes to shift over 5,000 units of the SUV per annum thanks to its new Welsh factory.
Watch this space as we bring you all the developments from Aston Martin.